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AICPA Agenda: Helping in Time of Need

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“All of us at the AICPA
share the deep sadness and concern the entire nation feels
over the devastation caused by Hurricanes Katrina and Rita.
Our hearts go out to the hundreds of thousands of Americans
whose lives have been forever changed, including the
thousands of AICPA members and their families living in
areas affected by these disasters.

“The CPA
profession has responded to these crises in a very decisive
way to bring to bear its expertise regarding financial
matters to help the victims. The AICPA has launched a number
of efforts to support our members in this extraordinary
time. The items below detail some of the initiatives already
under way.”

—Barry C. Melancon, President and CEO

Online Disaster Recovery Resource Center
The AICPA has established an online Disaster
Recovery Resource Center (
www.aicpa.org/news/2005/ ). Visit it for up-to-date
information, useful links to other Web sites and a wide
range of practical tools. The center includes resources for
members to use to assist their employers and clients, as
well as practice management guidance for firms directly
affected by Hurricanes Katrina and Rita.

CPA Firms Assisting Affected Members With Office
Space and More The AICPA and PCPS have
launched a Firm Volunteer Center to allow CPA firms to
provide office space and other resources to CPAs displaced
by Hurricanes Katrina and Rita. Displaced CPAs can find
contact information at the center for firms wishing to
volunteer resources or assist those in need. If you are a
CPA in need of assistance or a CPA firm that wants to help,
go to
http://pcps.aicpa.org/Community/Firm+Volunteer+Center.htm
. Volunteers are offering office space, housing, office
supplies, technology support, hosting and/or software,
temporary hiring of staff, disaster recovery assistance,
help in reaching clients of affected firms and help with
filings.

Disaster Recovery Guides, Mobilization Kit and Other
Resources Disaster Recovery: A Guide to Financial Issues was
developed by the AICPA Personal Financial Planning (PFP)
team to help individuals and families in the days, weeks and
months following a disaster when they are most in need and
often vulnerable to financial challenges. The guide,
produced by the National Endowment for Financial Education,
the AICPA and the AICPA Foundation, is distributed by
participating local chapters of the American Red Cross.

As part of this effort, the AICPA developed the Disaster
Recovery CPA Mobilization Kit (
www.aicpa.org/financialliteracy/Financial_Toolkits/Guide_to_financial_Issues_Toolkit.asp
) to support state societies and CPAs in their volunteer
outreach to those affected by disaster. The kit focuses on
the pro bono services CPAs can offer in moments of crisis
and includes a press release template, bylined article and
PowerPoint presentation. The AICPA Tax Section’s
Disaster Area Practice Guide ( http://tax.aicpa.org/Resources/
), also available, has been updated to include guidance
for victims of Hurricanes Katrina and Rita and has links to
IRS and other tax-related disaster recovery resources.

“Ask the Money Doctor” to Address Hurricane-Related
Financial Questions The AICPA’s 360 Degrees
of Financial Literacy Program has modified its Web-based
discussion forum, “Ask the Money Doctor,” to allow CPA
financial planners from other parts of the country to answer
inquiries from people who were affected by the hurricanes.
For access to this resource and to view a list of frequently
asked questions, visit
www.360financialliteracy.org/Ask+The+Money+Dr.htm (or
www.askthemoneydoctor.com
).

AICPA and NASBA Ask State Boards to Expedite
Reciprocity Requests The AICPA and NASBA
sent a joint letter to each state board of accountancy
requesting they expedite practice privilege requests from
CPAs and firms that have been affected by Hurricanes Katrina
and Rita and are seeking to practice in their state.
Numerous boards of accountancy have already contacted NASBA
to report they have plans in place to facilitate requests
and/or are planning to meet to discuss this initiative.

The AICPA also has compiled state licensing information,
including state board of accountancy and state CPA society
contact information, to be used for those licensees who are
seeking practice privileges in other states. For more
information, and to read the full text of the joint letter,
visit
www.aicpa.org/news/2005/AICPA .